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Outlined below, more and more people are beginning to live together, causing the demands and expectations of a home to change. If you are unsure what type of property you'll need, don't hesitate to contact us for a comprehensive analysis of desired locations, sizes, price points, and more!
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For the past 15 years, bathroom and kitchen upgrades continue to dominate the most common home improvement projects. In addition to these reigning champions, spending on room additions and whole house remodels is also steadily rising year after year.
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Take a look into how the American middle class is undergoing a rapid transition, thus affecting homeownership and financial resourcefulness.
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Energy efficiency is becoming a main focus when purchasing or remodeling a home, but how sellers market these features could have a larger impact on attracting potential buyers than we might realize. Consumers prefer certain terms over others, such as "eco-friendly" instead of "green." These subtle key differences could decide how buyers view and value a home.
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Millennials, posed to be the next generation of home buyers, are facing unique financial pressures that are affecting their purchasing powers. With the increased cost of buying a home, average incomes decreasing, and overwhelming student loan debt, millienials are facing a much different real estate landscape than those of the baby boomer generation.
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Recent data has shown some of the most popular features that lead to a faster home sale, including city skyline views, stainless steel appliances, and favorable school districts.
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Making up 32% of the population, the baby boomer generation of those age 50 or older displays several pereferences when it comes to their housing choices. With almost two thirds not planning on selling their home when they retire, the graph below further breaks down their habits in dealing with real estate.
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The features and expectations for a home have changed dramatically in the last 50 years with the average home growing larger, offering two stories, and boasting open floor plans. The chart below compares the shifting new home design characteristics from 1966 to those of today.
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Over 90% of California homeowners have enlisted professional help when they came time to renovate. The following graph details the average costs and values of remodeling a home.
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Education levels do not necessarily correspond to homeownership rates, for the majority of people across all education levels intend to stay in their house for as long as possible.
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With over $750 Million in real estate sales, The Aaronson Group offers an unparalleled level of service to our highly respected clients. Whether you are looking to buy or sell your home, we guarantee that our expertise, professionalism & dedication will navigate you towards meeting your unique real estate needs.
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